Guideline Value for KAMATCHI AMMAN STREET

Kamatchi Amman Street guideline value

The current guideline value of Kamatchi Amman Street is Rs 3,550 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kamatchi Amman Street has changed

The guideline value for Kamatchi Amman Street has seen several revisions over the years. In 2002, the guideline value was Rs 245 per sq.ft, which increased to Rs 304 per sq.ft in 2003, marking a 24% increase. Following this, the value rose significantly to Rs 900 per sq.ft in 2007, reflecting a 196% increase. The 2012 revision saw the value set at Rs 3,200 per sq.ft, which was a decrease of 256% from the previous revision.

In 2017, the guideline value was revised to Rs 2,144 per sq.ft, indicating a 33% decrease from the 2012 figure. The next revision in 2023 brought the value up to Rs 3,200 per sq.ft, a 49% increase. Finally, the current guideline value, effective from 1 July 2024, is Rs 3,550 per sq.ft, which represents an 11% increase from the previous year.

Guideline values in Ramapuram

In Ramapuram village, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 3,100 per sq.ft, placing Kamatchi Amman Street's 2024 figure above that median.

• Kamaraj Street: Rs 4,400 per sq.ft (2024)
• Kamaraj Salai: Rs 4,400 per sq.ft (2024)
• Kambar Salai: Rs 3,100 per sq.ft (2024)
• Kambar Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 1st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 2st Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchi Amman Street

For a 1,000 sq.ft plot at the current rate of Rs 3,550 per sq.ft, the guideline value amounts to Rs 35,50,000. The stamp duty at 7% would be Rs 2,48,500, and the registration fee at 2% would be Rs 71,000, totaling Rs 3,19,500. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kamatchi Amman Street?

The Sub Registrar Office that covers Kamatchi Amman Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ramapuram

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Ramapuram, the guideline value will influence the stamp duty and registration fees payable during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations. This value serves as a benchmark for property transactions and is used by the registration department to calculate the applicable fees.

Frequently asked questions

What is the current guideline value of Kamatchi Amman Street?

The current guideline value of Kamatchi Amman Street is Rs 3,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 245 per sq.ft in 2002 to Rs 3,550 per sq.ft in 2024, showing an overall increase of 1349% over the years.

What is the land classification for Kamatchi Amman Street?

Kamatchi Amman Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find more information about the Sub Registrar Office?

The Sub Registrar Office covering Kamatchi Amman Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more information by following the link to find your SRO.

How do stamp duty and registration fees work?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. It is important for buyers to be aware of these costs when engaging in property transactions.